Janet Yellen remarks crossing the wires (Bloomberg)
- valuations on stocks, commercial real estate are high on historical basis "but the financial system seems to be sound"
I am not sure of the venue she is speaking from. But, Yellen's views still very much of relevance. Very clever indeed she is.
ADDED ... here we go, more:
- current state of the U.S. economy is highly favourable
- payroll gains in a range of 90 - 120K a month ought to be sustainable ... at that pace, the unemployment rate will gradually fall and "I still will not expect to see some dramatic pickup in inflation"
- "Not seeing any real evidence of overheating in the labor market"
- "I think the Fed should and has been gradually raising rates to try to stabilize the labor market, to bring down the pace of job growth to a sustainable level to avoid the economy overheating"
Yellen at an event sponsored by the University of Pennsylvania's Wharton business school
Chair no more